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In Comments: At 9/16/2009 11:52 AM, Blogger M T said... "I don't know why people scream at India when they talk about jobs and outsourcing (I was disgusted to see some comments to this post from learned readers of Carpe Diem). Check these facts: Infosys and Wipro offer services in US. But companies like PWC and IBM offer services in India. The magnitude of services offered by US companies in India is more than what Indian companies offer in US. According to Office of the US Trade Representative "Sales of services in India by majority U.S.-owned affiliates were $4.2 billion in 2006 (latest data available), while sales of services in the United States by majority India-owned firms were $3.1 billion." FDI Flows from US to India is to the tune of $10.6 Billion (net flows). Again this is because companies like Pepsi and HP want to tap the local market with their product and services. U.S. goods and services trade with India totaled $61 billion in 2007 (latest data available). Exports totaled $27 billion; Imports totaled $34 billion. The U.S. goods and services trade deficit with India was $7 billion in 2007."

In Comments.... Ramesh Natarajan: "As per estimates, By 2012, India could have an unemployed population anywhere in the range of 19 to 37 million, the largest share of which will be educated youth. By 2020, India is estimated to have a surplus working population of 45-50 million people. I would say, we need to best utilize the surplus working population both by increasing the domestic job opportunities as well as grabbing the global market demands. Interestingly, one reason for the currency getting strong is due to huge inflow of Foreign exchange to India, primarily due to high NRI remittances. "

"brain drain in india" bookmarks from the delicious community

Indians Find They Can Go Home Again - New York Times http://www.nytimes.com/2005/12/26/business/worldbusiness/26recruit.html?pagewanted=1&_r=1 US May Widen Technology Contacts With India http://www.nytimes.com/2004/01/13/world/us-may-widen-technology-contacts-with-india.html?fta=y&incamp=archive:article_related

"Obama's $787 billion stimulus plan will make it increasingly difficult for U.S. companies receiving bailout money to hire foreigners on temporary work permits known as H-1B visas. The budget the President recently presented may also make it harder for U.S. companies that send jobs overseas to receive tax benefits. " "At a time when nearly 5 million Americans have applied for unemployment benefits and another 1.7 million are working part-time jobs because they can't find full-time work, immigration and outsourcing have become key political issues in the U.S. "

"Export growth was flat, but imports showed some volatility"

Wost Water #3 = India

"We learned that these workers returned in their prime: the average age of the Indian returnees was 30 and the Chinese was 33. They were really well educated: 51% of the Chinese held masters degrees and 41% had PhDs. Among Indians, 66% held a masters and 12% had PhDs. These degrees were mostly in management, technology, and science. Clearly these returnees are in the U.S. population's educational top tier?precisely the kind of people who can make the greatest contribution to an economy's innovation and growth. And it isn't just new immigrants who are returning home, we learned. Some 27% of the Indians and 34% of the Chinese had permanent resident status or were U.S. citizens. That's right?it's not just about green cards. " "A return ticket home also put their career on steroids. About 10% of the Indians polled had held senior management jobs in the U.S. That number rose to 44% after they returned home. Among the Chinese, the number rose from 9% in the U.S. to 36% in China. "

"....190 million people (roughly 3% of the world's population) lives outside their country of birth in 2005....India Net Inflow of Migrants 2002-2005 -270,000 / Money sent home by migrants (in USD) $26.90 billion..."

"Why should we care? Because immigrants are critical to the country's long-term economic health. Despite the fact that they constitute only 12% of the U.S. population, immigrants have started 52% of Silicon Valley's technology companies and contributed to more than 25% of our global patents. They make up 24% of the U.S. science and engineering workforce holding bachelor's degrees and 47% of science and engineering workers who have PhDs. Immigrants have co-founded firms such as Google (GOOG), Intel (INTC), eBay (EBAY), and Yahoo! (YHOO). "

Via Digg Source: Department of Homeland Security "This is a look at the 20 countries from which the most people came to America in 2008, how many immigrants already had family here, and how many received asylum when they arrived on our shores."

"The main reasons for brain drain some years back were the lack of attractive jobs and growth opportunities. MNC centers have played a major role in introducing the R&D departments and they are providing better opportunities, a reverse brain drain has kick started," Natarajan added.